Nantahala Capital Management LLC Invests $1.28 Million in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Nantahala Capital Management LLC purchased a new position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) during the fourth quarter, HoldingsChannel reports. The firm purchased 482,928 shares of the company’s stock, valued at approximately $1,280,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ieq Capital LLC purchased a new position in shares of Aerovate Therapeutics in the 4th quarter worth $38,000. Barclays PLC boosted its stake in shares of Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after buying an additional 14,354 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Aerovate Therapeutics by 110.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock worth $40,000 after buying an additional 7,977 shares during the last quarter. Harvest Investment Services LLC purchased a new position in shares of Aerovate Therapeutics in the 4th quarter worth $63,000. Finally, XTX Topco Ltd purchased a new position in shares of Aerovate Therapeutics in the 4th quarter worth $63,000.

Aerovate Therapeutics Stock Performance

Shares of Aerovate Therapeutics stock opened at $2.68 on Monday. Aerovate Therapeutics, Inc. has a one year low of $1.25 and a one year high of $25.29. The stock’s fifty day moving average is $2.53 and its 200 day moving average is $2.53. The stock has a market cap of $77.68 million, a P/E ratio of -0.90 and a beta of 0.95.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its earnings results on Friday, April 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.21. Analysts predict that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current year.

Aerovate Therapeutics Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 25th will be issued a $2.40 dividend. The ex-dividend date of this dividend is Tuesday, April 29th.

Aerovate Therapeutics Company Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.